First Direct Bank - Good News (ish)

Ineedaname

I was with First Direct before I went BR, having got through their strict credit checks before I had to default on my debts some 6 years ago. Once I was in a DMP and FD became aware of it they were find with me keeping the account, they just will not offer an account if a DMP is already in existence.

Anyway, rang them today to find out my chances of getting back with them in the future as I know their criteria are one of the strictest.

Very interesting conversation as apparently they just changed their policy in the last few days.

The only current account they have on their portfolio is a full current account, which comes with cheque book and £500 overdraft facility. They will now offer this account 6 years post discharge.:T

I did politely suggest that if the policy was meant to allow the account once BR has dropped off the credit reports then it should read "6 years post BR date" and that feedback will go to the right department.

Anyone thinking of obtaining a full account with First Direct in the future, please give them a ring, ask about the new policy and politely advise them that BR drops off credit records 6 years post BR date. Also that their policy makes anyone going the full year for BR wait 12 months after the BR has dropped off their records before they can appy for an account. A bit pointless as once it's dropped off where's the point in a delay? Then ask for that feedback to be passed on to the policy making department.

I think the more members who are willing to make this call the better. First Direct are, in my experience, exceptional in listening to the customer and may well amend their new policy to allow the account once BR has dropped off credit records.

Good news though, at least one bank will definitely allow a full bank account further down the line...

Ineedaname

Just wanted to clarify, the point of this thread isn't that a bank will allow an ex-BR a full account once it's dropped off credit files as I appreciate most will do that. It's more that a very strict (on customers they will accept) bank has relaxed it's policy which I believe was previously not to accept any ex BRs at any time... i.e. "have you ever been BR?" - "yes" - "sorry, no account".

dvs

Thanks INAN. I checked the online application form which now states:

To be eligible for a 1st Account with first direct you must:

be over 18 years of age
live in the UK
not have been declared Bankrupt or have registered for an Individual Voluntary Agreement within the last 6 years or be in the process of doing so
have a telephone number and email address we can use to contact you.

By proceeding to apply, you are confirming that you meet these eligibility criteria.

Toomuchdebt

Oh good I liked First Direct I'll be going back to them in July then

Bosie

Far better than Natwest and RBS who ask a blanket have you ever been bankrupt? So to that question if you had gone bankrupt 25 years ago you'd have to declare a yes!
So asking the question in the last 6 year's is more forgiving.
Plus FD are supposed to be an excellent bank and very strict with their bank opening criteria. Pretty sure Halifax also ask but think it's in the last 3 years?

didaiva

My IVA and all defaults have gone from all 3 credit reference agencies now (Been just over 6 years). First Direct were my biggest creditor in my IVA with a loan and two maxed out credit card accounts they were settled with green ticks a year later though.

Do you think they'll have me back as well, they were a good bank and provided great customer service in my opinion up until I defaulted with them. If they did I doubt they'll ever give me a mortgage though :-(

didaiva

I am quite surprised they've had me back as a customer :-) Slight concerns that they might try to offset old debts I had with them in the past, though they are settled now through the IVA so should not be able to that.

Managed to open up a 8% regular saver as well as a first account and qualifying savings account :-)

didaiva

Ignore the last post, though they opened the account up and gave a straight accept on the phone when I tried to log into internet banking with them and do a transfer from the current account to the savings account it would not let me!!!!!!

Called up their customer service line and was told that "Repayment Services" have put a marker on the account to stop transfers. Then spoke to someone in repayment services and THEY WENT BACK ON WHAT THEY TOLD ME They then said the account should not have been opened!!!

To say I'm not happy is a understatement especially as I had just finished transferring all my direct debits to them. Now I have to go and change them all back :mad:

Their integrity is a JOKE. They agree to something on the phone and then GO BACK ON THEIR WORD

Not good, pointed them at the direction of their own website where it says and I quote

"To be eligible for a 1st Account with first direct you must "
"not have been declared Bankrupt or have registered for an Individual Voluntary Agreement within the last 6 years or be in the process of doing so"

Again I meet this criteria!!! But they still decline the account!!! :eek::eek::eek:

And called them back this evening from home in private and despite being a 24 hour bank they cannot do anything about it until tomorrow when I'm at work!!!

I even called the new customer line this evening and they told me the account was "STILL OPEN" They confirmed this in the notes as well !!!

NOT A HAPPY CUSTOMER NOW !

foolishboy

Bosie wrote: »

Far better than Natwest and RBS who ask a blanket have you ever been bankrupt? So to that question if you had gone bankrupt 25 years ago you'd have to declare a yes!
So asking the question in the last 6 year's is more forgiving.
Plus FD are supposed to be an excellent bank and very strict with their bank opening criteria. Pretty sure Halifax also ask but think it's in the last 3 years?

Halifax say 3 years but turned me down flat .. I'm 4 years post BR and squeaky clean since then with a few credit cards all being handled 100%. They were a creditor, so could be that. File is as clean as it can be :-)

FB

lorrieb

I have received a letter from Maddersons Solicitors requesting monies for a debt that has been sold on to Arrow Global Guernsey. I have requested the original documentation for this debt which I have received, the original creditor was Monument. In the meantime I have also received credit agreement/statements from Transcom through Maddersons.

Could you tell me whether I am still liable for this debt when it has been sold on.

didaiva

Now I've got to give them some credit they have reconsidered and are going to offer me banking facilities with them. No credit for 12 months and a review at that time, and to be fair I don't want credit either. Well maybe a mortgage one day but saving for a deposit right now and their 8% account will help!!!

Now as I've mucked around the companies with DD's first switching to First Direct, then the next day back to Lloyds again I've decided to leave the Direct Debits alone once they are eventually back with Lloyds along with my salary. Had they not pulled this little stunt they would have had the whole lot moved to them including salary but now I'm just going to move across the savings part from Lloyds by standing order and see how that goes.

The account though is very limited in that they are going to send a "Full Auth" debit card (whatever that means), doubt I'll use it though as I'm mainly looking to save with them for the 8% and do have lloyds account.

I know if first direct look in on this, they will know who I am cause I've kicked up such a fuss about this over the past few days they must be sick of me now but I do believe in giving credit where it's due hence the update.

Thank you first direct for having me back.